EaseMyTrip Invests ₹100 Crores In New Hotel Company, Jeewani Hospitality

The well-known online travel company, EaseMyTrip is expanding into the hotel business. The company plans to build a luxurious five-star hotel in Ayodhya.

Ayodhya is a city that’s gaining a lot of attention due to the recently inaugurated Ram Temple. The hotel will be very close to the temple, within a 1-kilometer radius.

The decision was made by EaseMyTrip’s Board of Directors on February 11, 2024. They have agreed to invest up to ₹100 crores in a new company called Jeewani Hospitality Private Limited. 

This investment will give EaseMyTrip a 50% share in Jeewani Hospitality. To fund this, EaseMyTrip will issue new shares in its own company.

These days EaseMyTrip is doing financially very well. The company reported a 9.6% increase in its net profit, reaching ₹45.6 crore for the December quarter of the financial year 2024. 

This is higher than the ₹41.69 crore profit they made in the same period the previous year. The increase is mainly due to more people traveling. 

However, this profit is a slight drop from the ₹47 crore they earned in the September quarter of 2024. Overall, their total income grew by 18% compared to last year, reaching ₹165 crore.

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Despite this good financial performance, EaseMyTrip’s stock prices saw some ups and downs on February 12, 2024. The stock initially went up by 5% but then dropped by 7% from its highest point of the day. 

By noon, the stock price was at ₹50.7, which is 0.88% lower than the start of the day. The ups and downs might be due to the company’s investment costs of new 5-star hotels in Ayodhya.

Nishant Pitti, the CEO and Co-Founder of EaseMyTrip sees Ayodhya as a key place for investment, especially with the increasing number of visitors to the Ram Temple, which has attracted over 24 lakh people. 

The new hotel is aimed at providing a unique and spiritual experience to tourists visiting the city.

EaseMyTrip is the same company that recently demonstrated its patriotism by promoting Lakshadweep and canceling all of its Maldives tickets and flights during the India-Maldives issue.

In January, Maldives attempted to defame India and its tourism industry. Later, the country had to apologize to India and Prime Minister Modi while also criticizing its own leaders.